Economic weakness in China was a drag on Coca-Cola’s third-quarter sales, the company said yesterday, another signal that the world’s largest consumer market is becoming a less reliable source of growth.
“As we look ahead to the next 6 months, it is reasonable to expect that China’s ongoing economic slowdown may have a short-term effect on our industry and on our business,” Muhtar Kent, Coke’s chief executive, said.
“In our view, the Chinese economy is undergoing a natural and necessary economic transition as the government places greater emphasis on controlling long-term inflation over injecting short-term economic stimulus.”
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